Dynamic Healthcare buys LIS firm Dynacor

Dynamic Healthcare buys LIS firm Dynacor

Dynamic Healthcare Technologies has acquired laboratory information systems vendor Dynacor in a deal that broadens Dynamic's position in the LIS market and increases its customer base to over 600 hospitals, according to the company.

Under the terms of the deal, Dynamic exchanged 250,000 shares of Dynamic stock for all outstanding shares of Dynacor. Dynamic, based in Maitland, FL, intends to combine the strengths of Dynamic's LabPro 2000 and Dynacor's Premier Series LIS, and will integrate marketing efforts with Dynamic's CoPath Client/Server product, which was released in March.

In other Dynamic news, the company reported record quarterly revenues in its first quarter (end-March) of $9.7 million, a 319% increase over the $3 million posted for the same period in 1996. Much of the company's revenue increase came from a boom in application software licensing revenue, which jumped from $270,000 in the first quarter of 1996 to $5.1 million in the first quarter of 1997. Net income was $3 million, compared with a loss of $367,000 for Q1 1996.